Huntington National Bank Has $3,374,000 Stake in Cerner Corp. (CERN)
Huntington National Bank continued to hold its position in shares of Cerner Corp. (NASDAQ:CERN) during the second quarter, Holdings Channel reports. The fund owned 46,046 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Cerner Corp. were worth $3,374,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. TIAA CREF Investment Management LLC raised its stake in Cerner Corp. by 46.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,595,434 shares of the company’s stock worth $190,414,000 after buying an additional 1,140,365 shares in the last quarter. Ngam Advisors L.P. raised its stake in Cerner Corp. by 51.3% in the first quarter. Ngam Advisors L.P. now owns 394,500 shares of the company’s stock worth $20,893,000 after buying an additional 133,816 shares in the last quarter. WASHINGTON TRUST Co raised its stake in Cerner Corp. by 5.9% in the first quarter. WASHINGTON TRUST Co now owns 315,798 shares of the company’s stock worth $16,724,000 after buying an additional 17,502 shares in the last quarter. Pacad Investment Ltd. raised its stake in Cerner Corp. by 59.6% in the first quarter. Pacad Investment Ltd. now owns 23,646 shares of the company’s stock worth $1,252,000 after buying an additional 8,834 shares in the last quarter. Finally, CIBC World Markets Inc. raised its stake in Cerner Corp. by 52.3% in the first quarter. CIBC World Markets Inc. now owns 10,000 shares of the company’s stock worth $530,000 after buying an additional 3,434 shares in the last quarter. 81.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cerner Corp. (NASDAQ:CERN) traded up 0.42% during midday trading on Wednesday, hitting $62.37. 1,309,205 shares of the stock were exchanged. The firm’s 50-day moving average is $64.65 and its 200-day moving average is $58.42. The stock has a market cap of $21.06 billion, a price-to-earnings ratio of 34.25 and a beta of 0.66. Cerner Corp. has a 12 month low of $49.59 and a 12 month high of $68.31.
Cerner Corp. (NASDAQ:CERN) last posted its earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Cerner Corp. had a net margin of 13.53% and a return on equity of 18.57%. The company earned $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. Cerner Corp.’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts predict that Cerner Corp. will post $2.36 earnings per share for the current year.
CERN has been the subject of a number of analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cerner Corp. in a report on Wednesday, August 3rd. Deutsche Bank AG dropped their target price on shares of Cerner Corp. from $67.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Citigroup Inc. increased their target price on shares of Cerner Corp. from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Wells Fargo & Co. reiterated a “buy” rating on shares of Cerner Corp. in a report on Sunday, June 26th. Finally, SunTrust Banks Inc. upgraded shares of Cerner Corp. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.28 to $65.00 in a report on Thursday, June 23rd. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $66.18.
In other Cerner Corp. news, VP Michael R. Battaglioli sold 2,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $67.34, for a total value of $134,680.00. Following the completion of the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $134,680. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Linda M. Dillman sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total transaction of $388,080.00. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.
Cerner Corp. Company Profile
Cerner Corporation is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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